CECE deepens collaboration with India
28 February 2022
The Committee for European Construction Equipment (CECE) and the Indian construction equipment manufacturers’ association (ICEMA) have expanded their cooperation, in a bid to develop and improve market access and global trade for construction equipment manufacturers in both regions.
CECE President Alexandre Marchetta and ICEMA President Dimitrov Krishnan signed a Memorandum of Understanding (MoU) at the end of the CECE-ICEMA Summit, which took place virtually.
Dimitrov Krishnan, said, “The ICEMA – CECE Summit 2022, first of its kind to be ever held between the Indian and EU Construction Equipment Industries, is a step in the right direction and opens up opportunities for constructive dialogue and collaboration.”
The ICEMA represents OEMs that account for 95% of the total construction equipment Industry in India.
The agreement extends a previous cooperation deal that was signed by the two associations in 2019, and renews the organisations’ efforts to collaborate more closely in the areas of, “regulatory convergence, data exchange and market openness”.
This includes technology development and sustainability, policy and trade, and supply chain management.
While CECE is described as having a “successfully integrated internal market” with high safety and environmental standards, India’s fast-growing economy is said to offer lucrative investment and growth opportunities.
“Both European and Indian markets offer great potential for the construction equipment industry”, said CECE President Alexandre Marchetta. “CECE ICEMA close collaboration helps the industry in improving market access and accelerating technical developments.”
The new MoU also aims to build more long-term business relationships between construction equipment sectors, and is said to be of particular importance for the infrastructure sectors in both Europe and India.